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Financial Process

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SOP Formation and Review

WOIT Discussion and Notes Formation and Review

Today’s Think Tank Questions & POV Discussion

  • What are your BIGGEST Financial Challenges right NOW?
  • Mastering Your Results Financial Content Review
  • Online Library Financial Review
  • Financial $avvy Language Review
  • Anchor Report comparing YTD July 2022 to Dec.Year End 2015 and 2008
  • By using Sawtooth Page 10 and Page 6
  • Budget Spreadsheet Review of tab to create TCODB
  • Challenge for next time was to calculate your TCODB using the tab

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Powerpoint PDF

KPI - Key Performance Indicator for Auto Repair Business

Old Sayings; New Beginnings

We’ve all heard the old adage, “you can’t change what you don’t measure.” Ok, that much is relatively obvious. But where do you start? What do you measure, and how do you measure it? Who do you ask for help? Those are the real questions that we want to address when we talk about a KPI!

Asking the right questions in the right way is the key. We are identifying what the underlying items are, which move that vehicle towards the finish line. We all have “distal” goals (long distance goals we want to reach in the future), but we can’t reach them without first setting “proximal goals” (small, easily attainable goals which stack to build a foundation).

What are KPIs?

“KPI” stands for “Key Performance Indicator.” Your KPIs are the steps you list out that you have to meet in order to reach a greater goal. Consider your KPIs your proximal goals, and “double my revenue this year” your distal goal (ultimate future goal).

Identifying the right KPIs can help you break down a monumental task into tiny little bite-sized pieces which you can then easily take action on.

Let’s use “Getting Buff” as a fun example!

Let’s build some KPI for your Auto Repair Shop

So, you want to get ripped, shredded, built, and buff for the summer season?! Ok, easier said than done; that’s the definition of a distal goal, right there! Here is what we really need to do. We need a list of KPIs; smaller proximal goals we can use to get us there!

KPIs for the summer season:

  • Establish a budget for a gym membership
  • Identify five gyms I like
  • Call all five gyms and get price quotes
  • Select my preferred gym and sign up for a monthly membership
  • Set aside time to go to the gym
  • Research workout routines
  • Spend my first day in the gym

Now, this is a silly example, of course. But do you see how we broke the bigger goal into tiny little victories that we can check off? Doing this allows us to measure our progress towards our bigger goal. After that, we can produce easily digestible data.

We have seven KPIs listed. If we complete the first three, we can tell our significant others that we are 42% of the way there. So, it works the same for your auto repair business. If you have a goal to “double my revenue this year,” what are the exact steps you need to take to start moving the needle?

KPI and Business Coaching with You Net Results

Building KPIs can be daunting, and we understand that the process can be frustrating. How to start, where to start, and why to start? These are all great questions!

That is where we come in at You Net Results! We make that process easier than you ever imagined. We will help you navigate the complicated world of KPIs in order to get you to your next revenue goals.

Please contact You Net Results today for a complimentary consultation. Brian Gillis and our team will help you build your KPIs, and plug you into a vast network of auto repair shops. We work together so we can make the auto repair shop industry stronger! Let’s make June the best month of your business life!

Financial Process

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SOP Formation and Review

WOIT Discussion and Notes Formation and Review

0407-7-SOP-Credit Card Fees Profit Eater

Supreme Auto Care

Mike Meer, Shop Owner of Supreme Auto Care, shares what he has discovered
about Credit Card Fees.

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Powerpoint PDF

Anchor Financial Process

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SOP Formation and Review

Mastering Your Results Review

  • Fuel Maximizer Service Creation
  • ScoreCard Review
  • Introducing the Financial Recipe Spreadsheet
  • E-Myth FN-0060 Review
  • TCODB using Dec 2021 Anchor Report discussion

Description

  • FOR Daily Operation Library
  • SOP Fuel Maximizer Service #0541
  • Fuel Maximizer Service Opportunity, when fuel prices are higher than normal – so we can help our customers achieve the best fuel efficiency by offering service that can make a difference and save them $

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Powerpoint PDF

Anchor Financial Process

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SOP Formation and Review

WOIT Discussion and Notes Formation and Review

  • State of the Shop delivered by each attendee
  • Budget for Profit Spreadsheet Tabs Review
  • November 2020 versus 2021 page 10 review
  • November 2020 versus 2021 page 6 review

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Powerpoint PDF

Anchor Financial Process

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SOP Formation and Review – Budget Goals #0402-5

WOIT Discussion and Notes Formation and Review

So I can look forward to the coming year, predict and project budgeted goals, then determine what needs to be done to achieve them. Always ask, “How do we achieve these Budget Goals?”

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Daily Operations Process

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SOP Formation and Review

WOIT Discussion and Notes Formation and Review

  • 0539 – SOP- Going Paperless, How, Why, When and Where
  • Brian Beatty shares how he does it

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Financial Process Workshop

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  • Brian’s Know-How and Experiential
  • Setting your target Net Goal for the month and working your budget backwards discussed with Andy, Kevin, and Leon
  • Budgeting
  • Labor rates
  • 50 cents per month plan

Documents

Powerpoint PDF

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Topics discussed

  • Overview of Anchor Financial Process
  • Overview of the Financial Reporting Process
  • The reporting template
  • The reporting instructions
  • Reasons to do it yourself
  • Brian shares some of his aspects of budgeting

Your money is in the numbers! Andy, Joe N. and Joe E. each share some of their valuable experience with numbers.

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